Pros: The render is awesome, really flawless.
Nice quality, sleek and crisp...
The render fits well with the background and the boarder too.
I really love the shadowing (if you did shadowing) you did, makes the spray look more 3D.
Cons: I can see only two cons, and it's the boarder, and Freddy. The borders color choice doesn't really seem to fit Freddy. The brush you used on the border doesn't look to good to me. About Freddy he doesn't look very smooth or crisp.
Improvements: You should really improve the boarder my suggestion is Use the eye dropper tool and pick the main colors in your render or character. So to make it looks crisp and smooth do I would do this: Add some Gaussian blur (Filter > Blur > Gaussian blur...) of 0.2~0.4. Also for Freddy or any other character you use i would do this: filer>blur>blur then
I would say only sharpen it maybe once or twice at most three times, for the best effect.
Note: You can also do that to the border it give the spray a better effect!
Notes: It's a good looking spray, keep up the good work. Keep it up, and keep the improvements in mind.
Pros: Freddy is allways awesome ;D, i like the style of youre border and the cut out looks good.
Cons: It's a bit blurry and the yellow glow kinda doesent fit in at all with the spray would be smarter to use the colors that's on he's shirt.
Improvements: Well, it would be the quallety and the glow. The rest is good
Notes: I love he's eyes! so scarry! ;D